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Credit Crad companies make cash on merchants when you make a credit card purchase I believe, also banks pay them in order to issue cards to their members.
Behind each credit card is a major creditor(bank).
Say you use your card to buy $2 in gas, well, most gas stations don't like this because they are actually losing money due to the cost they pay for taking payment by way of credit cards v. the amount they make on the gas sale.
Some gas stations, for example, won't accept payment by credit card unless you purchase a certain amount of gas.
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A lot of people have to be watching this one now. It got Cramers "Buy, Buy, Buy" rating. It had a strong IPO day, only a small red day thereafter, and its the largest public credit card company in teh world.
-------------------- "I will smack you in the mouth, I'm Neil Diamond"- Will Ferrell
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Wow...what a dip. Every time this stock starts strong it dips stronger. Thats ok though, next few days should be up 1-5% per day and then this baby is an $80 stock.
-------------------- "I will smack you in the mouth, I'm Neil Diamond"- Will Ferrell
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Well the news wasn't great yesterday so I figure that accounts for it. But all the analysts that I have been listening to all say that the lawsuits won't amount to anything. So I am still looking for this to hit $80 or $90.
-------------------- "I will smack you in the mouth, I'm Neil Diamond"- Will Ferrell
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You guys think that this is response from that BS news yesterday about court cases? I do not think that anything will come of it, but maybe investors are getting scared.
-------------------- "I will smack you in the mouth, I'm Neil Diamond"- Will Ferrell
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quote:Originally posted by Baxt06: Think investors are scared in general. I think MA's drop has more to do with the market condition than anything company specific.
My thoughts as well. It all depends on what comes out of Bernanke's mouth in the next FED meeting IMO. I'm looking for a pause in rates going higher; however, many others think that a raise is coming and have pulled their cash out of the market.
We recovered strong yesterday, just as the markets evened out.